Meltwater has acquired Cosmify to utilise its advanced machine learning technology that will bolster its data analytics offerings.
Under the acquisition, Cosmify's machine learning technology will enable Meltwater's platform to intelligently manage large data sets from multiple sources and in return businesses are able to make competitive decisions based on such insights.
Aditya Jami, senior director of Engineering & Head of AI at Meltwater, explained: "Cosmify's knowledge discovery engine analyses customers' very large and dynamic data lakes to produce vectorised information, and when fed into our existing Data Science platform, automates generation of highly customised outside insights - all without having to import their internal data into our systems."
Eugene Ciurana, CEO and founder of Cosmify, added: "Our unsupervised learning system extracts knowledge from internal and external, unstructured data sources like PDFs, free-text, spreadsheets, media files, presentations, cloud drives, calendars, or chat systems - most often hitting on valuable information nuggets that eluded the very users who produced them."
Jorn Lyseggen, CEO and founder of Meltwater, said: "Cosmify's advanced discovery, clustering, and classification capabilities will enhance Meltwater's ability to connect the dots between a wide range of data types from internal and external data and ultimately help business leaders make more informed decisions."
Meltwater adds Cosmify to its ongoing acquisition streak, which shows its commitment to data science and machine learning. Its other acquisitions include Canada's Infomart and Hong Kong based social big data SaaS solution Klarity. Plus Oxford University spinout, Wrapidity and data science company Encore Alerts.